Seattle council to divest $3 billion from Wells Fargo over Dakota Access Pipeline

Monday's snow delayed a Seattle City Council vote to divest city investments from Wells Fargo bank, so the council will vote Tuesday.

Author:
Alison Morrow

Published:02/08/17

SEATTLE -- Seattle is the first major city to cut financial ties with Wells Fargo over the Dakota Access Pipeline.

In a unanimous vote Tuesday, city council members divested $3 billion from the bank as a part of passing an ordinance dealing with city funds and ethical banking standards.

The vote prompted "water is life!" chants from crowds packing the city council chambers to witness what they believe will send shockwaves of hope all the way to Standing Rock.

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It comes on the same day activists learned of a major blow to their efforts to stop the construction of the oil pipeline. The Army announced it will approve the final necessary permit.

Activists have been camped out around the pipeline route for a year. President Obama gave temporary relief with his order for the Army to find another route. President Trump reversed the action by approving the pipeline.

Native tribes argue the pipeline, which will run under the Missouri River, endangers water and public health.